Client Action Bulletin
2023 IRS Limits for Retirement, Social Security, and Health Benefits & 2023 PGBC Premiums
By Charles J. Clark
26 October 2022
Based on new inflation readings, the IRS and the Social Security Administration have released their 2023 cost-of-living adjustment values for tax-qualified retirement plans and Social Security benefits. The Pension Benefit Guaranty Corporation also published its 2023 single-employer and multiemployer defined benefit pension plan premium rates. The new IRS limits represent the highest annual increase in both dollars and percentage—a key change as we compare next year’s values with those from 2022 and 2021.